A lawsuit was filed on behalf of investors in 22nd Century Group, Inc. (NYSE: XXII) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/13/2019 -- An investor, who purchased shares of 22nd Century Group, Inc. (NYSE: XXII), filed a lawsuit over alleged Securities Laws violations by 22nd Century Group, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of 22nd Century Group, Inc. (NYSE: XXII) have certain options and for certain investors are short and strict deadlines running. Deadline: March 22, 2019. NYSE: XXII investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Williamsville, NY based 22nd Century Group, Inc., a plant biotechnology company, provides technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. On October 25, 2018, an article reported that the Securities and Exchange Commission ("SEC") might be actively investigating 22nd Century Group for its involvement in a potential pump and dump scheme. According to the article, a March 2018 exposé revealed that "[f]ake authors" wrote positive stories concerning 22nd Century. The article states that 22nd Century management "has still not explained who authorized or funded the positive articles" or "provided any reasoning for who else could be responsible for these tactics of having fake authors write positive articles."
The plaintiff claims that between February 18, 2016 and October 25, 2018, the defendants made false and/or misleading statements and/or failed to disclose that 22nd Century's stock was prone to manipulation through paid stock promotions, that such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission (the "SEC"), and that consequently, 22nd Century's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of 22nd Century Group, Inc. (NYSE: XXII) have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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